Identify how metrics are used in the company/industry to support use of batch size or EOQ. Enter your company’s story along with narrative and relevant metrics in the initial post of the Discussion Forum.
Economic order quantity (EOQ) is the ideal order quantity a company should purchase for its inventory given a set cost of production, a certain demand rate, and other variables. This is done to minimize inventory holding costs and order-related costs. The Following excerpt is taken from How to make EOQ Relevant Again (2012). y-axis […]